All Forum Posts by: Geremy C.

You posted awhile ago, but do you remember the name of that title company in Colorado Springs, @Steven Johnson.

Thanks for all the input. I have done some reading on setting up a trust to mitigate the risk of the due on sale clause Henry M. Since this is the "creative financing" thread I thought that someone out there would've already experienced a similar scenario where you wanted to negotiate a deal directly with a seller, avoiding agents costs of course. If there really is no ethical way around having to work directly with the sellers agent, unless the obvious the contract expires, would the sellers agent get the entire commission? and would the average real estate agent know how to handle such a purchase offer with a contingency on seller's financing? Thanks so much.

I really want to purchase the house for sale next to my rental. Unfortunately, the only way I can make it happen is with seller financing, and having a real estate attorney do up the paperwork. I won't have any extra to pay real estate agent commissions, etc. If the seller is interested, is our only option then to wait out the listing contract to expire? Thanks in advance!

I just tried it. Pretty awesome. Thanks guys!

@J. Martin thanks for the input. I agree holding on to it will give me the control over curb appeal that I desire and originally led me to research this deal. I know it would cash flow $150-200 after the fixes. It sounds like my equity wouldn't help much at this time. The $40k equity takes me to the value, tappable would be more like $10k. Do you know if assuming a VA loan is different from the seller keeping his VA mortgage and seller financing me the deal. I'm a bit confused. Thanks so much.

I'm actually looking to buy in Colorado because I don't plan on living in Washington for longer than two years. I absolutely love Colorado and that is where I plan to return when my husband retires from the military and stops moving me all around the country. ;) We turned our owner occupied property into a rental when his duty station changed about ten years ago. I've managed the property myself, with the help of a local friend, and have gained the confidence it takes to try for another rental. Also, the Colorado Springs area is much more affordable for an entry level investor as myself, than my current location in Washington. @Michael Wentzel is there a local attorney that you know of that is comfortable with the paperwork involved with "subject to" purchase deals? I have my eye on a house for sale right next door to my rental and think this route is my best choice right now. Thanks guys for the interest.

The house next to my one and only rental is up for sale. I've always jokingly told my husband that if that house ever went up for sale we'd have to buy it because the badly kept yard affects my current rental's curb appeal. Well it happened, it's for sale, and needless to say I hadn't planned for it (meaning no savings) however, I do have about $40k equity in my rental home. My husband and I have excellent credit as well. I know it's a motivated seller, I've spoken with the agent. It's listed at $145k, but the agent said it would go for less if I were to do the fixes. By looking at county records I know the mortgage is probably at around $125k and am considering offering the seller a "subject to" purchase offer. Can I still do this with a VA backed loan? My goal is to get the house with the least amount of money, and buy and hold at least until summer for a bigger profit. If the seller won't agree to that deal, I would like to have a plan B, which is where I'm considering using the equity I have in the rental. Thoughts? Thanks in advance!!

Hello! Currently I live in the great state of Washington, but am looking for investment opportunities in Colorado. I look forward to learning everything I can from my fellow real estate investing professionals.

Earlier I posted this same question, but for an attorney in the Colorado Springs area. I hope you get an answer soon!